Stock Market & Financial Investment News

Flagstar Bancorp to appeal court ruling on Assured Guaranty Flagstar Bancorp (FBC), the holding company for Flagstar Bank, reported that on February 5, the U.S. District Court for the Southern District of New York issued a decision in the previously disclosed lawsuit filed by Assured Guaranty (AGO), formerly known as Financial Security Assurance. The Court granted judgment in favor of Assured on its claims for breach of contract against the bank in the amount of $90.1M plus contractual interest and attorneys' fees and costs to be determined. Flagstar strongly disagrees with the Court's ruling and intends to vigorously contest the outcome on appeal.